Business Standard

Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12

Through another resolution, the shareholders are also seeking a settlement on the issue of a legal battle with some shareholders regarding board positions.

Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12
Premium

The nine shareholders hold a total of around 13 per cent shares in the company.

Shine Jacob Chennai
A group of nine shareholders of Thrissur-based Dhanlaxmi Bank have called for an extraordinary general meeting (EGM) of the bank on November 12, in a move to curb the spending powers of its chief executive officer.

The nine shareholders hold a total of around 13 per cent shares in the company. The group is led by R P Group head Ravindran Pillai, who holds a 9.99 per cent stake in the company. As per a notification, one of the resolutions, shareholders have sought the suspension of delegated powers exercised by the managing director and CEO regarding “all capital and revenue

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 20 2022 | 10:32 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com